18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,270 Blog Posts

All Cash (traveling)

I was tempted to trade at the open but remembered the misery of trading while traveling and opted to liquidate my account, +35bps for the session.

It is a genteel return, one that all should strive for. If, for example, you just made 35bps per day — by the end of the year you’d be up 77% and considered to be one of the greatest investors alive. Dare I say, you should reduce your lofty goals of 5% daily returns in favor of something much more austere?

The 20yr old punk kid behind the BBBY squeeze has a rich uncle who owns MNMD and now that stock is ripping higher. I only mention this due to its stupidity to make you aware of the current state of things in western finance.

I have no expectations for the session and will need to re-acclimate myself tomorrow with the state of affairs. Being out of pocket for a few days really throws one aback, leaving a feeling of out of the know. I can only imagine how retarded civilians feel whilst glancing at equity markets. They have no idea what happens here.

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One comment

  1. soupbone

    Western finance has not removed the excess liquidity they produced. When and if that happens this also ends. Trouble is, the fad at the time was to buy bonds, good and bad. Nowthen, those bonds are not easily removed from the balance sheet, even letting them run off is a problem. Oh my.

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